>> reporter: you can't tell us who it was about? >> i can't tell you that. i have an espresso machine in my office. >> reporter: that's know when you made it big when you have an espresso machine in your office. or mine is on the street. >> john roberts sitting in. >> john roberts sitting in. he starts right now. -- captions by vitac -- www.vitac.com >> announcer: cnn prooim "prime time" is on right now. good evening. campbell brown is off. i'm john roberts. three people are in question after the fbi raids across the northeast. another in pakistan now. investigators are following the money. a trail they believe could lead from midtown manhattan all the way to pakistan. so are cash couriers the key to unraveling this plot? another story we're following. the uproar in a california high

school when students got in trouble for wearing american flag clothing on cinco de mayo. also ahead, a very provocative question. should women be running wall street. some firms were all run, some might say run into the ground by men. and women are now in charge of cleaning up the economic mess on wall street. overseeing the t.a.r.p. fund. does wall street need to pay. and we begin with the national story. teenagers at a california high school were sent home after wearing american flag clothing on a holiday that celebrates mexican heritage. cnn's dan simon was there. >> they told us, basically, we

either take it off, or we get suspended. they threatened us with suspension. so we all decided that we were going to leave school. >> i don'ts did like mexicans, but i think we should be able to wear an american flag whenever we want. >> and so a controversy was born. live oak high school in california is 40% hispanic. the following day, 100 students, most if not all hispanic, skipped school and marched to city hall, saying they've been disrespected by their fellow students. >> it's not that they were sitting at the bench, having lunch, minding heir own business. they were actually taunting other kids. >> dan simon joins us. what's the latest from where you are? >> reporter: john, i think it's fair to say, this has become a public relations disaster from the morgan hills school district. i was at a school board meeting

a few nights ago, it was a packed meeting. pretty much everybody that went to the microphone blasted the school board for the way it handled the situation. i want to play a sample of what was said. >> what happened and what was conducted by the principal and his assistant is unconscionable and will not be smoothed over by "it was just a misunderstanding," or it was a safety thing. i'm sorry, who what in endangered? i want to see the principal and the vice principal fired. >> reporter: well, the school district said it was a mistake. they should not have told those boys to remove their patriotic clothing or flip their shirts inside out. meanwhile, we don't know if any disciplinary action is going to be taken. the matter is under review. john, a wrinkle in all of this, cnn today got a statement from the school superintendent who said on may 4th, the day before

this happened, on cinco de mayo, an order went out to all students telling them that nobody, nobody should wear any flags, american flags or mexican flags. it appears that the boys simply ignored that order or didn't know about it. in any case, the superintendent was ambiguous saying that it shouldn't have been handled that way. >> we will talk to you about that request that went out before the cinco de mayo. it's just the latest example of how the american flag has sparked passion all this week. danny glover here, actor and political analyst, was booed after failing to put his hand over his heart. he was the commencement speaker. glover said he meant no disrespect. by the end of the address, he actually had the folks in the crowd giving him a standing ovation.

another one, we learned that sarah palin will invoke old glory in her book that's coming out. it's a celebration of american virtues and strengths. and finally, one more to tell you about. isn't that a beautiful american flag? that's a painting of an american flag. way to cash in on the stars and stripes. on tuesday a nearly 50-year-old painting by jasper johns, titled "flags." sold for $26 million at auction. that set an auction record for the artist. let's get to the heart of the matter. reuben is a cnn contributor columnist. and chris is also running for secretary of state in kansas. ruben, let's start with you. i read your column that you wrote on all of this. you say that you were prepared to cut these students a break. you thought at that principal had acted incorrectly. but since then, you've actually changed your mind. you've gone around 180 degrees.

why? >> absolutely, john. really before the 11th hour, i was convinced that the students overreacted and the victims were what they were portrayed to be. and i read an item which is the associated press was actually the first group to report at that students had been warned beforehand not to wear or wave any flag on clothing or bandanas or whatever. so then it really struck me, this is really about defiance. this is about a bunch of bratty kids defying school authorities. not just them but others who also wore flags apparently. this is not coincidence. these five kids didn't all of a sudden get the spirit to be patriotic all at once. that would be a heck of a consequence. this was a conspiracy to go and stick their thumb in the face of the administration. >> let's bring chris in here, chris, are these students

patriots or brats? >> you can call it defiance if you want. there were american patriots in 1775, 1776 who were rather defiant to british authorities. you have to remember something about first amendment rights. the case of tinker versus des moines back in 1969, some high school students wore black arm bands to symbolize their defiant position that they thought the u.s. should not be involved in the vietnam war. lots are defiant. >> are you trying to show the morals with the kids wearing the flag and what happened in 1776? >> i think it's more like 1976, with the kids. >> kris is only telling part of the story. the other part of the tinge eti decision, that was 1969. you had the supreme court

chipping away at that and basically giving more authority to the school system and school administration. i find it curious, cheering on all of that, have done a 180, using your phrase. now, all of a sudden, the school administrator is latino. the kids oppressed or the white kids and they've flipped over. i'm consistent they're not. the idea of cheering on the aclu is ludicrous. the fact is they have to own up to the fact that the supreme court has pretty consistently chipped away at some of those tinker protections. >> gentlemen, i want to take a quick break. but we will talk about when and when it isn't appropriate to display the american flag on clothes. and also about patriotism. we'll pick that up after the break. in the country! [ male announcer ] when stress gives you heartburn with headache... alka-seltzer gives you relief fast. [ low male ] plop, plop. [ high male ] fizz, fizz.

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we're back now with ruben naverrette and kris kobach talking about the newest controversy with the american flag a battle that's dividing a high school and others. students wearing american flag t-shirts on cinco de mayo. told by the teachers to turn the t-shirts inside out or go home. how far does it go? >> it does say that, tinker that students don't shed their first amendment rights when they enter the school house gate. there are exceptions.

they can't have obscene clothing. disrupt the educational process. the notion that it disrupts the educational process say bit of a stretch. >> would the disruption have to be overt or subtle? >> it could be subtle. i have trouble with the american flag piece disruptive or offensive. to think about the fact that these kids deliberately wore the american flag and according to your report would taunt the other students was not something to pick it out of their hat. they did it deliberately because they saw this a contrast. you wave that flag, we'll wave the american flag. >> but it comes down to exactly what you said. the concept of the american flag is being seen as offensive or disruptive. is there any instance in this country, in which that is the national flag. and that's the symbol of everything it means to be a citizen of this country, is there any instance in which that can be offensive or disruptsidi?

>> i have a opinion on that. they shouldn't be using the flag in these commercial enterprises that kind of way. you sell t-shirts that way. i have a tough time, again, as american-born, u.s. citizen, a tough time imagining this. i know a finger in the eye when i see one. these are a bunch of bratty kids, by the way, bratty parents, condoning the action when they shouldn't be. >> you mention code four, chapter one, the flag should never be used as apparel. we've got jessica simpson. we'll bring up those graphics. jessica simpson wearing an american flag. wearing it quite well. kid rock actually wearing the american flag. he was actually wearing a flag. it wasn't just wearing an article of clothing to look like a flag. we also found this, the

absurdity, the mexican chihuahua wearing the flag. when can it be worn or not worn? >> not actually wearing an american flag, rectangular, as clothing. but i think let's step back here, the notion that school administrators would be saying it is offensive and inappropriate to wear anything that has the stars and stripes on it just shows how crazy things have gotten in some schools. going back to the tinker case, 45 years ago, some school administrators would say, no, you can't wear that arm band because that shows disrespect for our country's involvement in a war. and now at this point saying you can't wear the american flag. i think it's gone too far in some schools. >> gentlemen, unfortunately, we've got to leave the ethnics studies question for another time. we've eaten up our time. kris kobach and ruben

naverrette, thanks for joining up. eyea report has broken involving a pakistani terror plot. we'll have a live update coming up next. ♪ let the sun shine [ male announcer ] open yourself up to a whole new driving experience. introducing a mercedes-benz convertible that controls the wind and keeps you comfortable in any season. the e-cabriolet, newest member of the amazing e-class family. ♪ see it in "sex and the city 2," in theaters may 27th. ♪ gecko: uh, you wanted to see me sir?

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a top security story tonight. the latest on the times square terror plot. three people are in custody tonight after the fed staged lightning raids across the northeast all the way from maine to new york. and attorney general eric holder says all of them have ties to faisal shahzad, the suspect in the botched times square bombing. >> at about 6:00 this morning, fbi agents and agents with the customs and immigration enforcement service showed up at this house behind me in watertown, massachusetts, right outside of boston. and within minutes they apprehended two men described by neighbors as being middle eastern. they are looking at the financial aspect of this. whether or not money was transferred from these two individuals to faisal shahzad. but it's unclear as to whether or not these two individuals actually knew what the money was going to be going to. >> they are being held on immigration champs. a federal law enforcement source tells me it that they are more interested in the two

individuals who were taken into custody outside boston in watertown, than the one individual that was picked up in maine. >> for the very latest now on the investigation, we turn to our national correspondent susan candiotti, she has been following this developing story all day. she's in times square for us tonight. susan, you're reporting this evening that the fbi is focusing on many different threads in this ongoing investigation, not just the money trail? >> reporter: that's right. there are many threads indeed. tonight, we're hearing reports from "the washington post" that is talking about what they're calling a previously undisclosed arrest in pakistan, someone claiming to being an accomplice of faisal shahzad. someone who claim head drove shahzad to an area where he received bomb training. but also, tonight, john, we're see for the very first time a photograph of the police have

identified as the getaway car. this is the photograph during a meeting with president obama and the new york city police department, including members of the bomb squad that participated in this investigation. the photographs also show a key that is believed to belong to that isuzu which was supposed to be the getaway car. and also the vin plate from the suv that belonged to the car that contained the explosives. now, all those threads that we're talking about, yes, the fbi is looking at possible couriers who may have delivered money some way, some how to shahzad who helped pay for the bomb plot. money that may have come from overseas that would be extremely hard to trace, but they're hot on that trail. and also today, they executed search warrants in, as you heard, massachusetts, at two locations there, both at a home and a gas station. and in new york, on long island, we know that the fbi also raided two locations there.

two homes, again, no arrests were made. and there was a third state in new jersey, where they raided and executed a search warrant, at a print shop, as well as the home of the owner of that prints shop. and may also they also interviewed people there. so there are many tentacles that we're told they're looking at. they're looking at friends, associates, who paid for it. who did shahzad meet with. who did he call? who did he talk with? looking at his e-mails. they have a lot of things to track down but we also talked to the u.s. attorney today leading the case and asked him whether shahzad is still talking. >> faisal shahzad is still cooperating. he's being interviewed and questioned by agents, and has been since the day taken in custody. we are doing exactly what people want us to do, and that is to make sure we get all the information that we can with respect to any and all associates he may have and other

information that may help us prevent anything further from happening in the united states. >> reporter: and, john, despite all of these raids today, the u.s. attorney says the lead prosecutor in the case says, he knows of no imminent threats anywhere as a result of this. john, back to you. >> susan candiotti for us in times square. susan, thanks so much. we want to bring in retired police executive will palumbo. let's start with you, when you look at new jersey and new york and boston, what does that tell you about the size of it? >> well, it's considerable but not new. last week we saw apprehensions throughout the states. colorado, i believe minnesota, brooklyn. and the open case in dallas, texas. this isn't a revelation. it just lends itself to the premise that there is many

support for this individual. >> bob baer, when you're looking at the money trail here, it's an organization, very loose organization called a cash courier system. how does that work? >> it's very simple. someone takes a deposit, cash deposit, let's say pakistan in karachi, they give the money to a fairly benign looking store. once the money is left there. the man in the store will call an associate in the united states and say, listen, i just got paid $5,000. and we're going to have a guy, shahzad come and pick the money up and you give him the $5,000. the problem for the fbi and the national security agency and the cia, there's no written record. it's on a phone call and it's very difficult to chase. >> we should point out they're calling hawala, and they're very prevalent in pakistan, right? >> as well as china. it's a very old system used to

beat the taxes, beat the government. but it's very well refined and a night they'mare for the cia and. >> how do they get around the reporting parts of this? >> they don't report them. the fbi has to sort out whether it's narcotics or terrorism. the only way they can go through this is call these people in and go through their documents. >> we surmised that these arrests fell out of the conversations that investigators have been having with faisal shahzad if this indeed is the network that helped finance him. so you can unravel this after the fact, how as an investigator, do you try to uncover anything before it happens? >> it's very problematic. unless they're on the radar screen with the intelligence community, they're an unknown quantity. just to handle the blossoming of this investigation, it wasn't

just the fruition of the interrogation or interviews of the suspects. it has to do with the fbi or intelligence community going through a process where they just continuously connect dots. they take one bit of information that leads to one person. they go to that person. it blossoms from, based on communication, money movement, all types of thing. easy passes. it's just incredible, the process. i mentioned earlier, there's going to be a lot of fruition out of this particular investigation. we were very fortunate nothing actually materialized. but on the other hand, it's given the fbi, and the intelligence community abroad something to bite into. it's going to telegraph in the future. >> bob, back to this cash courier system, this hawala system, we hear at that opium trade say huge source of money for the taliban. where else does the money calm from that might have made its way from that part of the world into faisal shahzad's pocket?

>> a lot of it comes out of the gulf, if you're a devout muslim, you give money to charities. but you can't tell what happens to the money. most of it ends up in the orphanages and so forth but a small amount ends up in the taliban's hands. even countries like saudi arabia can't keep track of the money. so there's so many sources. it's just not narcotics. it's really, really hard and do have to go through every single lead. >> bob and lou, thanks for coming tonight. coming up, an inspiring new documentary about a group of disabled athletes who know know limitations. we'll find out what happened when a movie was played for some wounded veterans at the walter reed medical center. thing as taking a chance?

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our number one international story tonight. the shocking moment we've been following all day on cnn. a renegade general in thailand shot in the head during an interview with a reporter for "the new york times" covering anti-government protests. it's the top story on "the new york times" website which has this photo of the opposition leader thomas fuller who works for them just before it. >> reporter: it's been one of the most outspoken red shirt protesters a renegade general

nicknamed sae gang. this is him giving an interview to the press. moments later, he's shot in the head. this extraordinary footage shows him bleeding profusely just seconds after the attack. the police think he was shot by a sniper. the question is, was it the thai army that tried to kill him. the army has said nothing about the incident. the shooting provoked fury and panic among his fellowers. his limp body was rushed to the hospital where he remain in critical condition. turning to an inspirational documentary by steven basher. "unbeaten," it's been called the toughest road race in the world. all the more when you find out the experts are paraplegics in hand cycles. the movie was shown at walter

reed medical center last night for some of the war warriors covering from devastating attacks in afghanistan. >> i got involved in a hit and run motorcycle accident. left me paralyzed from the waist down. left me in depression. left with no hope at that point. at the end of the day, it was either sink or swim. >> my issue is, i have a broken neck, broken back, broken pelvis. this leg was broken. they amputated the right leg. >> chris, i'm in the connecticut army national guard. and i'm here at walter reed receiving treatment for injuries i received from an ied in afghanistan recently. >> the race is through alaska. 266 miles over six days.

it's gnarly terrain. the underlying concept is still there, that is, recovery, most psychologically and physically through sports and medicine. >> oh, it was awesome. i didn't realize they had something like that going on in alaska. i didn't realize the guys travel so fast in the chairs. >> and i have a tattoo in my chest, that gets me redefined. my really intent is to essentially convey the power of the human spirit through sports and athleticism. >> i'm not confident right now, because they don't know where my injuries are going to lead me. i would definitely love something like doing crew or something. no way would i do the cycling, not with those guys out there. that was insane. >> life is not over. you suffer a catastrophic injury from an ied blast, whatever.

an injury that you sustain. but there's still plenty of hope. there's still plenty of opportunities. >> i feel great. ready to start walking. >> nobody can tell you what you can dream of, you know. only you can sort of dictate that. the hope is all up here. and disability, most of the time, is also up here. self-induced disability. at the end of the day, you keep hope alive. >> steven barber is the award winner who made the documentary. let's start with you. why do you want to bring this documentary to walter reed medical center? >> there was no other place to really -- that was my core audience. these were the men that just came back from the field that maybe are feeling hopeless. this movie lets -- because everyone in my film has been there. they've had these horrible, horrific accidents. they've been shot.

they've been hit in the back, one guy fell out of a tree bear hunting. and they've been through it. so it shows somebody who is just back from the field that, yeah, your life isn't over. it's just beginning. >> and you certainly went through your share of trauma. you were in afghanistan in january. six bombs hit in a row went off. what were the extent of your injuries? >> i suffered complete loss of vision in my left eye. a fractured jaw. five fractured teeth. and shrapneler. ing on my left eye. >> has it been a long road back for you? >> it has, but it's been going really well. >> so when you watched the movie last night, and when you saw people like oz sanchez who has got that slogan tattooed on his chest there "know no limits" did you draw inspiration from that? >> oh, definitely. it's an inspiration for me.

it shows never to give up on what you want. disability is not going to set you back. >> what does it say to you. when you look at the guys who did this 260 mile race through the mountains of alaska, does it say to you, hey, maybe i can come back from this? >> oh, yeah, of course. it shows you that anything is possible, even if you have a disability. it's definitely not the end of the road. >> hey, steven, what kind of similarities have you found between the wheelchair athletes and the wounded warriors that you met at walter reed? >> the similarities are stark and amazing. they don't give up. i had a tour of walter reed yesterday and saw some of these guys. we went to the rehab. i got to see the part of walter reed that most people don't get to see. they don't let it stop them. a movie like this, if you got shot in the field if you lost your leg, doesn't matter how. my producer cameron henry and i, we had an opportunity to walk through and see the inspiration of these guys.

i can't even tell you the stories they were telling me. they want to get back to the field. the similarities are amazing. these are the elite of the elite. they bring inspiration to everybody. i'm almost speechless. >> and wade, there were a couple hundred of you at walter reed last night. there's obviously thousands of wounded warriors. what message wow give to some of those wounded warriors who think i've got a tough life ahead of me, i've got a lot to come back to. i don't know if i can do it? >> i would just say don't let it get you down. don't let anybody get you down. just keep pushing like you usually would, you know, the military. just keep that confidence and just don't quit. >> wade christensen, we're glad that you're on the road to recovery. and steven barber, thank you for the film. and thank you for taking to walter reed. that was a nice gesture. >> thank you. it's mostly men who tanked the economy, but now it's women in charge of cleaning up the

financial industry. are women the new sheriffs of wall street? we've got some people with interesting things to say on that as soon as we come back. stay with us. my team about fedex office print online for our presentations. we upload it to fedex office, then they print, bind, and ship it. the presentation looks good, right? yes, but -- you didn't actually bring carl with you. good morning! but i digress. [ male announcer ] we understand. you need presentations done right. and right now save 20% on all online printing purchases. visit fedex.com/print. what did we make better ?

communities. industry. energy. her. this. lives. how ? by bringing together... information. ... people ... ... machines ... ... systems ... ideas... verizon helps businesses worldwide... including fortune 500 companies... find and achieve... better. better. better. better. wall street dominated by men who helped bring about the worst economic meltdown since the depression. now, it's up to very some are powerful women to make sure that doesn't happen again. first, joe johns with the downlow. john, dragnet, fbi agents across the northeast making

arrests in anti-terror raids in new york, new jersey, and maine. with the times square bombing investigation, two in massachusetts, the third in maine. the three were taken into custody on immigration violation. >> the bloody rioting in thailand took a deadly turn. one demonstrator was killed and an anti-government protest leader, a rogue army general, was shot in the head. protesters have made it clear they will shoot people who they see as armed terrorists. they're demanding a new election. bp is turning to trash to seal off that massive oil leak in the gulf of mexico. engineers are hoping to shoot pieces of tires, knotted rope even golf balls to plug the leak. once the leak is clogged, heavy mod and cement would be poured in, agency the technique has

been used in kuwait, during the first gulf war but never under 5,000 feet. and walgreens has postponed its plans to sell genetic tests. the kit would have aloud customers to send their alieasa samples to a lab. it warned people to be skeptical of the product, saying it has not been proven to be safe, effective or accurate. so there's a problem there, you find out that you really don't have bubonic plague. >> i guess the safety part isn't that much of an issue because all you do is spit in a cup. the accuracy part, though, that could be key? >> that's right. >> joe johns for us tonight. thanks so much. coming up, the big players on wall street, mostly men, almost all of them actually. we've all seen how well that worked out. now the wing tips are being

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our number one political story tonight comes not from

washington, but from buffalo, new york. that is, of course, where the president was today for a speech on the economy. but he ran smack into a lot of anger about jobs, anger that was expressed in no uncertain terms on youtube. i need a freakin' job. >> i need a freakin' job. >> i need a freakin' job. >> reporter: in a blunt message delivered on you tube -- >> hey, i need a freakin' job. >> he was greeted about the state of the current job market. he took pains today to say he understands it. >> economists have all kinds of fancy formulas and mathematical equations to measure the exact moment the recession ended. and it's great for the stock markets to bounce back. but if you're still looking for a job out there, it's still a recession. >> that billboard saying "i need a freakin' job," the president's

motorcade did not pass by it either on his way into or out of town. "larry king live" starts in just a few minces time. larry's with us now. and he's got a preview. >> larry: hey, john, rapper t.i. is here tonight. he's talking to us exclusively about his nine months in prison on a weapons conviction. he'll tell us why he thought he needed guns and how he's turning his life around. he's answering my questions, yours, too. t.i. for the hour, next on "larry king live," john? >> proving you cannot have whatever you like. all right, larry king, we'll see you in 15 minutes' time. no question that wall street has largely been dominated by men. and have some suggested it was all that testosterone that ran the economy right into the ground. and now, post-meltdown, very powerful women are in charge of cleaning up the mess. as "time" magazine puts it, it's women who have become the new sheriffs of wall street.

the former ceo of clayco and author. crystal and contributor at the daily beast. and also author "house of cards." the three women on wall street, sheila baird, and elizabeth warren heading up the t.a.r.p. program, are women becoming the new watchdogs on wall street? >> well, it's certainly the case that we see women strong. something quite interesting in some of the industries that avoided a meltdown, we had women in powerful regulatory rules, our own canada, julie dixon, probably the best regulator. but i have to say, john, i'm against the thesis which says that women are better at policing wall street than men. you have to be very careful about these kinds of gender distinctions, someone's going to

say in the go-go years that you shouldn't allow girls to do that. >> what do you say about that? are women as good as men at making money? >> yes, actually. we can make a difference between men and women. they're thought the same. women today are very strong. they're very well educated. they have skills that men don't have, or they're better at certain things. and they're certainly used to cleaning up the mess. it happens in all ways of life. so why not the financial world. i think what's the plus for women is they are used to making rules for the family, for their work, for their life. and i think that the world needs some rules. and why shouldn't they do it? i think they can do a very good job. and we see more and more women educated, in middle management, and we're becoming the majority. so maybe it's time to switch and bring our flavor to that. i'm not saying that women are

better than men. i think they should work together. and as more women are added to the team, that's a plus, and it gives strength to women to do better and more for the society and for the 21st century which needs it badly. >> william cohen is a man by inference that lives his life without rules. what are you thinking about all of this? beam have said if lehman brothers was lehman sisters maybe they'd about around today. >> one of the things to remember, the head of the commodity and trade commission in the late '90s was the first to say that it should be regulated. who overruled, larry summers and bob rubin. >> wasn't she wrong on

derivatives? >> no she was right on derivatives, period. but it happened to be a woman who got it right on derivatives, overruled by men. and i think it's a shame, had she been allowed to regulate derivatives, a lot of this would not have happened. i think it's another shame, despite the three new sheriffs of wall street who happen to be women, on wall street itself, only 2% to 3% of financial ceos are women. the last time i checked, something like 51% of the population is women. >> cristea, why is that, why aren't people rising through the ranks? >> i personally think it's that. it's incredibly demanding. if you want to have kids that can be rough. i think the fact that wall street is such a male place may

be one reason why women regulators have an edge. one of the things that we've noticed in terms of regulatory failure is the regulators started to think too much like the regulators. thinking like an outsider made them better. >> i want to go to ask why. we'll be right back with you. more on this discussion coming up. we're going to talk about how a financial firm in iceland run by women managed to weather the economic storm while everything else melted down. ♪ [ male announcer ] winning more awards for quality and customer service than any other luxury manufacturer the last 10 years says something. yet, the award we value most is the fact that lexus has had more repeat, loyal drivers,

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so would wall street be better off with women in charge? we're back with mireille giuliano, cristea and william cohen. you're a ceo of a big company, why is that the situation and how do we change it? >> well, it was. in my case, i was one of very few women. this is 20 years ago. things are changing fast now. not fast enough, maybe. but i think we're becoming the majority. and as this happens, women themselves are helping each other, are mentoring each other. and we're becoming very, very strong force out there. and we will change the world because we will make our own rules. and our rules will be different. and we have a compassion, we have the skills, we have so much to offer. we just need to be out there and

be part of that network and maybe change the world. >> you know, there are obviously biological differences between men and women. >> are you going to tell us about them, john? >> i don't think i need to. there are studies done that show that hormonally driven in the amount of risks that a women is likely to take. a man has 15% more testosterone than a woman. he is more likely to take a rick. what do you think? >> i'm really cautious about leaning too heavily on those studies precisely because i think if you do, you'll find women being excluded from the kind of jobs that you want a really risky person who's willing to do something brave and daring. and the other thing that i think is -- it's great to talk about women being compassionate.

women making their own rules and see on. if lehman brothers or lehman sisters, it's okay, but if it was the ceo at lehman brothers and didn't do such a great job. >> were you a risk taker? >> i was a big risk taker. and i think the difference may be that we know how to take risks. but we also know that there's some limit. and we more careful, i think. and less greedy, maybe. and we have a better sense of justice. and for those great women who really want to change the world, and there are plenty of them, i think they see that our society cannot go on the way it has been going on. so we need to make those changes. >> one quick comments if i could from bill cohen. when women do get into some of these financial houses, how are they treated? not in all case but some cases? >> not well. i wrote a book about how women

were treated at bizzard. they got rid of the first women. they said, we only want one. the law says we only have to have one, why do we need more than one. >> they filled their quota. >> they filled their quota. and they don't have very many now. >> great discussion. thanks for coming in. "larry king live" starts in just a few minutes. coming up next, sometime to kick back and have a laugh. here's a sample of betty white telling jay leno what it was like to host "saturday night live." >> you have all of these changes. wig changes and all of that. somebody grabs your hand and pulls you and you're out horizontal back here. and they take you into something, a room smaller an this desk. and somebody's taking your clothes off. >> i didn't ask you how you got the job. [ laughter ] . wow!

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by the way, forgot to

mention, in our discussion, iceland, the firm run all by women, the only firm to survive the economic downturn virtually unscathed. time now for the late night. the guys are all over the jokes from sarah palin to the gulf oil spill. >> sarah palin, the former governor of alaska has a new book coming out next fall. "the oil came from the gulf of mexico." >> they're pointing out that america has seen the first black president and now the first black ocean. >> police in cairo have detained an american man who arrived on a flight from jfk with two handguns, 250 bullets, swords, daggers and knives in his luggage. when they heard this, the jfk screener was